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SEGMENT INFORMATION | 12 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
SEGMENT INFORMATION | 18. SEGMENT INFORMATION Atkore operates its business through two operating segments which are also its reportable segments: Electrical and Safety & Infrastructure. The Company’s operating segments are organized based on primary market channel and, in most instances, the end use of products. The Company reviews the results of its operating segments separately for the purposes of making decisions about resource allocation and performance assessment. The Company evaluates performance on the basis of net sales and Adjusted EBITDA. The Electrical segment manufactures high quality products used in the construction of electrical power systems including conduit, cable, and installation accessories. This segment serves contractors in partnership with the electrical wholesale channel. The Safety & Infrastructure segment designs and manufactures solutions including metal framing, mechanical pipe, perimeter security, and cable management for the protection and reliability of critical infrastructure. These solutions are marketed to contractors, original equipment manufacturers and end users. The Company’s Chief Operating Decision Maker (“CODM”) is the President and Chief Executive Officer. The CODM uses Adjusted EBITDA to allocate resources predominantly in the annual planning process. Adjusted EBITDA is used to monitor and evaluate periodic results against budget, forecast and prior period results. Both segments use Adjusted EBITDA as the primary measure of profit and loss. Segment Adjusted EBITDA is the income (loss) before income taxes, adjusted to exclude unallocated expenses, depreciation and amortization, interest expense, net, loss on extinguishment of debt, restructuring charges, impairment charges, stock-based compensation, certain legal matters, transaction costs, gain on purchase of business, gain on sale of a business and other items, such as inventory reserves and adjustments, loss on disposal of property, plant and equipment, insurance recovery related to damages of property, plant and equipment, release of indemnified uncertain tax positions, and realized or unrealized gain (loss) on foreign currency impacts of intercompany loans and related forward currency derivatives. Intersegment transactions primarily consist of product sales at designated transfer prices on an arm's-length basis. Gross profit earned and reported within the segment is eliminated in the Company’s consolidated results. Certain manufacturing and distribution expenses are allocated between the segments on a pro rata basis due to the shared nature of activities. Recorded amounts represent a proportional amount of the quantity of product produced for each segment. Certain assets, such as machinery and equipment and facilities, are not allocated to each segment despite serving both segments. These shared assets are reported within the Safety & Infrastructure segment. We allocate certain corporate operating expenses that directly benefit our operating segments, such as insurance and information technology, on a basis that reasonably approximates an estimate of the use of these services.
| Fiscal year ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
(in thousands) | External Net Sales |  | Inter- segment Sales |  | Adjusted EBITDA |  | External Net Sales |  | Inter- segment Sales |  | Adjusted EBITDA |  | External Net Sales |  | Inter- segment Sales |  | Adjusted EBITDA
Electrical | $ | 1,998,209 |  |  | $ | 10 |  |  | $ | 330,512 |  |  | $ | 2,354,958 |  |  | $ | 20 |  |  | $ | 728,341 |  |  | $ | 2,675,050 |  |  | $ | 25 |  |  | $ | 1,004,853 |
Safety & Infrastructure | 852,169 |  |  | 1,200 |  |  | 109,191 |  |  | 847,095 |  |  | 1,982 |  |  | 89,982 |  |  | 843,711 |  |  | 447 |  |  | 103,231 |
Eliminations | — |  |  | (1,210) |  |  |  |  | — |  |  | (2,002) |  |  |  |  | — |  |  | (471) |  |  |
Consolidated operations | $ | 2,850,378 |  |  | $ | — |  |  |  |  | $ | 3,202,053 |  |  | $ | — |  |  |  |  | $ | 3,518,761 |  |  | $ | — |  |  |
The table below presents the reconciliation of net sales from continuing operations to Adjusted EBITDA by segment.
| Fiscal Year Ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
(in thousands) | Electrical |  | Safety and Infrastructure |  | Electrical |  | Safety and Infrastructure |  | Electrical |  | Safety and Infrastructure
Net Sales | $ | 1,998,219 |  |  | $ | 853,369 |  |  | $ | 2,354,978 |  |  | $ | 849,077 |  |  | $ | 2,675,074 |  |  | $ | 844,158 |
Cost of sales | (1,509,170) |  |  | (670,374) |  |  | (1,448,980) |  |  | (677,224) |  |  | (1,503,555) |  |  | (676,258) |
Selling, general and administrative expenses | (204,062) |  |  | (102,706) |  |  | (220,136) |  |  | (104,135) |  |  | (209,947) |  |  | (84,401) |
Other Segment Items (a) | 45,525 |  |  | 28,902 |  |  | 42,479 |  |  | 22,264 |  |  | 43,281 |  |  | 19,732 |
Adjusted EBITDA | $ | 330,512 |  |  | $ | 109,191 |  |  | $ | 728,341 |  |  | $ | 89,982 |  |  | $ | 1,004,853 |  |  | $ | 103,231 |
(a) Other Segment items include intangibles amortization expense, depreciation expense, interest expense, income tax expense, and other adjustments to the measure of profitability as defined above.
Presented below is a reconciliation of operating segment Adjusted EBITDA to (Loss) Income before income taxes:
| Fiscal Year Ended
(in thousands) | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
Operating segment Adjusted EBITDA |  |  |  |  |
Electrical | $ | 330,512 |  |  | $ | 728,341 |  |  | $ | 1,004,853 |
Safety & Infrastructure | 109,191 |  |  | 89,982 |  |  | 103,231 |
Total | $ | 439,703 |  |  | $ | 818,323 |  |  | $ | 1,108,083 |
Unallocated expenses (a) | (53,309) |  |  | (46,610) |  |  | (65,956) |
Depreciation and amortization | (124,533) |  |  | (121,018) |  |  | (115,524) |
Interest expense, net | (33,269) |  |  | (35,584) |  |  | (35,232) |
Loss on extinguishment of debt | (795) |  |  | — |  |  | — |
Asset Impairment Charges | (214,386) |  |  | — |  |  | — |
Stock-based compensation | (23,561) |  |  | (20,300) |  |  | (21,101) |
Transaction costs | (291) |  |  | (140) |  |  | (968) |
Gain on purchase of business | (6,243) |  |  | — |  |  | — |
Loss on assets held for sale | (257) |  |  | (733) |  |  | (7,477) |
Other (b) | (1,649) |  |  | (6,701) |  |  | (11,535) |
(Loss) Income before income taxes | $ | (18,590) |  |  | $ | 587,237 |  |  | $ | 850,290 |
(a) Represents unallocated selling, general and administrative activities and associated expenses including, in part, executive, legal, finance, human resources, information technology, business development and communications, as well as certain costs and earnings of employee-related benefits plans, such as stock-based compensation and a portion of self-insured medical costs.
(b) Represents other items, such as inventory reserves and adjustments, loss on disposal of property, plant and equipment, release of indemnified uncertain tax positions, gain on purchase of business, loss on assets held for sale (includes loss on assets held for sale in Russia. See Note 12, “Goodwill and Intangible Assets” for additional information), realized or unrealized gain (loss) on foreign currency impacts of intercompany loans, impairment charges, related forward currency derivatives, transaction and restructuring costs.
| Capital Expenditures |  | Total Assets
(in thousands) | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023 |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
Electrical | $ | 56,521 |  |  | $ | 92,682 |  |  | $ | 137,485 |  |  | $ | 1,456,834 |  |  | $ | 1,773,937 |  |  | $ | 1,715,419 |
Safety & Infrastructure | 34,084 |  |  | 45,758 |  |  | 69,475 |  |  | 721,156 |  |  | 769,527 |  |  | 753,821 |
Unallocated (a) | 16,503 |  |  | 11,421 |  |  | 11,928 |  |  | 673,932 |  |  | 477,939 |  |  | 465,769 |
Consolidated operations | $ | 107,108 |  |  | $ | 149,861 |  |  | $ | 218,888 |  |  | $ | 2,851,922 |  |  | $ | 3,021,403 |  |  | $ | 2,935,009 |
(a) Unallocated includes corporate assets primarily consisting of cash, corporate prepaids and fixed assets and income tax-based assets
The Company’s long-lived assets and net sales by geography were as follows:
|  | Long-lived assets |  | Net sales
(in thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023 |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
United States |  | $ | 681,948 |  |  | $ | 756,108 |  |  | $ | 612,066 |  |  | $ | 2,501,481 |  |  | $ | 2,817,844 |  |  | $ | 3,150,143 |
Other Americas |  | 8,253 |  |  | 9,168 |  |  | 8,655 |  |  | 80,380 |  |  | 92,361 |  |  | 94,064 |
Europe |  | 53,300 |  |  | 55,907 |  |  | 52,498 |  |  | 220,803 |  |  | 245,764 |  |  | 228,885 |
Asia-Pacific |  | 7,445 |  |  | 11,566 |  |  | 6,569 |  |  | 47,714 |  |  | 46,084 |  |  | 45,669 |
Total |  | $ | 750,946 |  |  | $ | 832,749 |  |  | $ | 679,788 |  |  | $ | 2,850,378 |  |  | $ | 3,202,053 |  |  | $ | 3,518,761 |
The table below shows the amount of net sales from external customers for each of the Company’s product categories which accounted for 10% or more of consolidated net sales in any of the last three fiscal years:
| Fiscal Year Ended
(in thousands) | September 30, 2025 |  | September 30, 2024 |  | September 30, 2023
Metal Electrical Conduit and Fittings | $ | 455,678 |  |  | $ | 551,753 |  |  | $ | 529,083 |
Plastic Pipe Conduit and Fittings | 673,622 |  |  | 921,587 |  |  | 1,252,422 |
Electrical Cable and Flexible Conduit | 494,011 |  |  | 489,927 |  |  | 506,994 |
Other Electrical products (a) | 374,898 |  |  | 391,691 |  |  | 386,551 |
Electrical | 1,998,209 |  |  | 2,354,958 |  |  | 2,675,050 |
Mechanical Tube | 306,637 |  |  | 352,707 |  |  | 367,730 |
Other Safety & Infrastructure products (b) | 545,532 |  |  | 494,388 |  |  | 475,982 |
Safety & Infrastructure | 852,169 |  |  | 847,095 |  |  | 843,711 |
Net sales | $ | 2,850,378 |  |  | $ | 3,202,053 |  |  | $ | 3,518,761 |
(a) Other Electrical products include International Cable Management, Fiberglass Conduit and Corrosion Resistant Conduit.
(b) Other S&I products include Metal Framing and Fittings, Construction Services, Perimeter Security and Cable Management.
Risks and Concentrations Concentration of Credit Risk — The Company extends credit to various customers in the retail and construction industries. Collection of trade receivables may be affected by changes in economic or other industry conditions and may, accordingly, impact the Company's overall credit risk. Although the Company generally does not require collateral, the Company performs ongoing credit evaluations of customers and maintains reserves for potential credit losses. As of September 30, 2025, Sonepar USA represented 13% and CED National represented 12% of the Company’s accounts receivable, with no significant amounts past due. As of September 30, 2024, Sonepar USA represented 17% and CED National represented 11% of the Company’s accounts receivable, with no significant amounts past due. For each of fiscal 2025, 2024 and 2023, one customer, Sonepar USA accounted for more than 10% of sales. The amounts described above are primarily in the Electrical Segment. Concentration of Employees — As of September 30, 2025, approximately 20% of the Company's employees were represented by a union under a collective bargaining agreement. All unions are located in either the United States or Canada, with no unions or Worker's Councils at any of the other locations abroad. As of September 30, 2025, there are approximately 1,105 employees represented by a union. On July 14, 2020, the Company and the United Steelworkers Union reached agreement on the terms of a new collective bargaining agreement for our largest facility in Harvey, Illinois, which expired in April 2024. In 2025, the Company reached an agreement with representatives of the United Steelworkers Union for a new 5-year labor contract for our Harvey, Illinois facility. The new contract is retroactive to April 2024.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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